In a year of significant declines in the cryptocurrency market, only one of Binance's 30 newly listed altcoins managed to stay in the green zone: Jupiter's native token JUP.
According to crypto researcher Coin98 Analytics, the majority of these tokens have seen significant declines, exacerbated by a market crash on August 5 that wiped out approximately $510 billion in market value.
The only standout is JUP, which is up an impressive 21.2% since its debut on January 31. This raise increased its fully diluted market value (FDV) to approximately $8 billion, a remarkable achievement in a challenging market environment. FDV represents the market value if all tokens were in circulation at current prices.
Launched in January, Jupiter operates as a decentralized exchange on the Solana blockchain and has delivered over $610 million in total value locked (TVL), as reported by DefiLlama. In addition to its impressive performance, Jupiter's airdrop on January 31st was the largest in Solana history, distributing approximately $700 million worth of JUP tokens to approximately one million wallets.
In stark contrast, the rest of Binance's 2024 token listings have struggled significantly, with many experiencing declines exceeding 50%. The worst performer among these is AEVO, which has fallen more than 90% since its listing in March.
*This is not investment advice.
